Technical Due Diligence exercise in France
3E has supported Global Eco Power for the Financial Close of the Vallée de Don project, by acting as Lenders’ Technical Advisor with a Duty of Care towards Triodos Bank. The project consists of 5 Gamesa G90 2MW wind turbines and is located near Nozay, France (Loire-Atlantique region). This Technical Due Diligence exercise looked at the different aspects of the projects, including design review to identify potential flaws and long term energy yield assessment, to provide an independent opinion over the expected revenues of the project. 3E also reviewed and actively participated in the contract negotiation with Gamesa to mitigate technical risks related to specific contractual aspects.
Régis Decoret, Head of Wind at 3E: “We are delighted to continue our long relationship with Triodos Bank as well as proving our added value to Global Wind Power, a new customer for us. The project featured specific technical risks, especially in the turbine contract, that needed some extensive negotiation with the wind turbine manufacturer to mitigate and fence specific risks. The project involved 5 people from our Toulouse and Brussels office, and 3E will also perform construction monitoring for the Lender in 2015 and 2016. We are pleased with this new project, which proves that the French market has picked up since 2013, thanks to clarification over administrative process and feed in traffic. Overall, 3E has significantly increased its wind activities in France in 2014 and we are looking forward to supporting our French customer in the future”.